fighting identity fraud with ai and analytics · fighting identity fraud with ai and analytics...

$15K $800 BILLION 16.7 MILLION 1.3 MILLION $16.8 BILLION Fighting Identity Fraud With AI and Analytics Identity fraud is a growing concern that affects both businesses and customers. Fraudsters now have easier access to more tools and data than ever before. Here are some of today’s biggest fraud challenges and how SAS ® fraud solutions can help you stop fraudsters in their tracks. Fraudsters Are Becoming More Sophisticated Identity theft hits record high 1 35% Data breaches expose more records than ever 1 More than 446 million records were exposed between 2017 and 2018 4 . For the first time ever, Social Security numbers were compromised more than credit cards. Social Security Numbers Credit Cards 30% Card-not-present (CNP) fraud soars 1 Synthetic identity fraud to drive $48 billion in annual losses by 2023 2 • EMV driving fraudsters to online fraud. • CNP fraud is 81% more likely than POS fraud. Account takeover (ATO) spikes 1 Total losses reached $5.1 billion in 2017 120% increase from 2016 62.2 million collective hours spent to resolve Stop identity fraud in its tracks with SAS ® fraud solutions Our unique hybrid approach of advanced analytics, AI and machine learning separates fraudsters from real customers, keeping your business protected and profitability up. © 2019 SAS Institute Inc. Cary, NC, USA. All rights reserved. 109472 _98517US.1119 Learn more today sas.com/fraud Sources 1 - Identity Fraud Hits All-Time High With 16.7 Million US Victims in 2017, According to New Javelin Strategy & Research Study. Javelin Strategy & Research. Feb. 6, 2018. 2 - Truta, Filip. Synthetic Identity Fraud to Drive $48 Billion in Annual Losses by 2023 –Juniper Research. Security Boulevard. Nov. 23, 2018. 3 - Nova, Annie. Scammers Create a New Form of Theft: Synthetic-Identity Fraud. CNBC. June 7, 2018. 4 - Stone, Jeff. Synthetic Identity Theft Is the Fastest Growing Financial Crime in the US. Cyberscoop. July 10, 2019. 30% 0 Improve operational efficiency. Reduce customer friction. Integrate internal and third-party data providers in real time. Consolidate your data model across a diverse data ecosystem. Score and decision 100% of events in real time. Increase fraud capture and CIP/KYC pass rate. 20.7 MILLION 16.7 million consumers affected in 2017 Credit card losses of $800 billion in 2017 3 $15K average loss per incident 20.7 million collective hours to solve $16.8 billion lost 1.3 million more victims than in 2016

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Page 1: Fighting Identity Fraud With AI and Analytics · Fighting Identity Fraud With AI and Analytics Identity fraud is a growing concern that a˜ects both businesses and customers. Fraudsters

$15K

$800BILLION

16.7MILLION

1.3MILLION

$16.8BILLION

Fighting Identity Fraud With AI and Analytics

Identity fraud is a growing concern that a�ects both businesses and customers. Fraudsters now have easier access to more tools and data than ever before. Here are some of today’s biggest fraud challenges and how SAS® fraud solutions can help you stop fraudsters in their tracks.

Fraudsters Are Becoming More Sophisticated

Identity theft hits record high1

35%

Data breaches expose more records than ever1

More than 446 million records were exposed between 2017 and 20184.

For the first time ever, Social Security numbers were compromised more than credit cards.

Social SecurityNumbers

Credit Cards

30%

Card-not-present (CNP) fraud soars1

Synthetic identity fraud to drive $48 billion in annual losses by 20232

• EMV driving fraudsters to online fraud.

• CNP fraud is 81% more likely than POS fraud.

Account takeover (ATO) spikes1

Total losses reached $5.1 billion in 2017

120% increase from 2016

62.2 million collective hours spent to resolve

Stop identity fraud in its tracks with SAS® fraud solutionsOur unique hybrid approach of advanced analytics, AI and machine learning separates fraudsters from real customers, keeping your business protected and profitability up.

Learn more today sas.com/fraud

Sources

1 - Identity Fraud Hits All-Time High With 16.7 Million US Victims in 2017, According to New Javelin Strategy & Research Study. Javelin Strategy & Research. Feb. 6, 2018.2 - Truta, Filip. Synthetic Identity Fraud to Drive $48 Billion in Annual Losses by 2023 –Juniper Research. Security Boulevard. Nov. 23, 2018. 3 - Nova, Annie. Scammers Create a New Form of Theft: Synthetic-Identity Fraud. CNBC. June 7, 2018. 4 - Stone, Je�. Synthetic Identity Theft Is the Fastest Growing Financial Crime in the US. Cyberscoop. July 10, 2019.

30%

Improve operational e�ciency.

Reduce customer friction.

Integrate internal and third-party data providers in real time.

Consolidate your data model across a diverse data ecosystem.

Score and decision 100% of events in real time.

Increase fraud capture and CIP/KYC pass rate.

20.7MILLION

16.7 million consumers a�ected in 2017

Credit card losses of $800 billion in 20173

$15K average loss per incident

20.7 million collective hours to solve